v3.26.1
Property, Equipment and Software
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property, Equipment and Software Property, Equipment and Software
A summary of property, equipment and software, net was as follows:
(in thousands)June 30, 2026December 31, 2025
Computer software$136,982 $125,073 
Equipment14,031 14,037 
Leasehold improvements2,585 2,621 
Furniture and fixtures871 875 
Property, equipment and software154,469 142,606 
Less: Accumulated depreciation(94,983)(86,245)
Capital work in-progress2,843 2,275 
Property, equipment and software, net$62,329 $58,636 
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Depreciation expense$4,545 $4,075 $8,918 $7,937 
Computer software represents purchased software and internally developed software that is used to provide the Company's services to its customers.
Fully depreciated assets are retained in property, equipment and software, net, until removed from service. No fully depreciated assets were removed from service during the three months ended June 30, 2026. Certain fully depreciated assets were removed from service during the six months ended June 30, 2026 and three and six months ended ended June 30, 2025.